Trex Company’s consolidated net sales for the 3Q 2019 were $195 million, 17% ahead of the comparable period in 2018. Consolidated gross margin for the quarter was 42.4%, representing gross margins from Trex Residential Products and Trex Commercial Products of 43.4% and 26.5%, respectively.
Net income for the 3Q 2019 was $42 million, or $0.72 per diluted share, representing increases of 42% and 44%, respectively, from net income of $29 million, or $0.50 per diluted share, reported for last year’s 3Q.
“We continued to experience robust demand for our residential decking products in the 3Q. Growth was led by the appeal of the Trex brand and the value proposition our products represent, strong demand for the new Enhance product line and positive market conditions. We achieved strong double-digit growth despite softer than expected sales in the Trex Commercial Products segment. The 170 point sequential expansion in Residential Products gross margin that was achieved in the third quarter reflected improved production performance that has enhanced our ability to deliver product to our customers,” noted James E. Cline, President and CEO.
Trex Company is the world’s largest manufacturer of high performance wood-alternative decking and railing.
